This bill amends the Iowa public employees retirement system (IPERS) and the municipal fire and police retirement system by adjusting contribution rates for members in specific service categories. Effective from July 1, 2025, the bill establishes that members in regular service will contribute 40% of the required contribution rate, while their employers will contribute 60%. For members in special service roles, such as those in protection occupations or as sheriffs and deputy sheriffs, the bill sets the employee contribution rate to 0%, with employers responsible for 100% of the required contribution rate.

Additionally, the bill modifies the existing contribution rates for the municipal fire and police retirement system, reducing the member contribution rate to 0% as well. The changes aim to alleviate the financial burden on employees in these critical roles while ensuring that employers fully cover the required contributions. The bill also includes provisions to maintain a consistent contribution rate for regular service members, limiting any annual variation to no more than one percentage point from the previous fiscal year.

Statutes affected:
Introduced: 97B.11, 97B.49B